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ALPINE ELECTRONICS, INC. Consolidated Statements of Operations Years ended March 31, 2009, 2008 and 2007 Millions of Yen Thousands of U.S. Dollars (Note 1) 2009 2008 2007 2009 Net sales (Note 12) ¥196,667 ¥252,072 ¥265,055 $2,002,107 Costs and expenses (Note 12): Cost of sales 171,519 204,738 211,085 1,746,096 Selling, general and administrative expenses 35,793 40,322 43,860 364,379 207,312 245,060 254,945 2,110,475 Operating income(loss) (Note 12) (10,645) 7,012 10,110 (108,368) Other income (expenses): Interest and dividend income 752 930 736 7,655 Interest expense (122) (171) (128) (1,242) Foreign exchange gains (losses) 3,528 (1,926) 788 35,916 Equity in earnings of affiliates 1,143 1,047 677 11,636 Loss on sales and retirement of noncurrent assets (343) (343) (262) (3,492) Gain on sales of investment securities 118 51 — 1,201 Loss on valuation of investment securities (52) (256) (120) (529) Prior compensation expense for products — — (935) — Provision for product warranties — — (297) — Gain on valuation of options 2,578 — — 26,245 Loss on valuation of inventories (1,091) — — (11,107) Loss on valuation of noncurrent assets (493) — — (5,019) Other 592 1 (267) 6,027 6,610 (667) 192 67,291 Income(loss) before income taxes and minority interests (4,035) 6,345 10,302 (41,077) Income taxes (Note 9): Current 30 2,930 4,738 305 Deferred 5,103 (298) (372) 51,950 5,133 2,632 4,366 52,255 Income(loss) before minority interests (9,168) 3,713 5,936 (93,332) Minority interests in income (123) (159) (207) (1,252) Net income(loss) ¥ (9,291) ¥ 3,554 ¥ 5,729 $ (94,584) Yen U.S. Dollars (Note 1) 2009 2008 2007 2009 Amounts per share of common stock: Net income(loss) ¥(133.17) ¥50.95 ¥82.12 $(1.36) Diluted net income — — — — Dividends from surplus applicable to the year 10.00 25.00 25.00 0.10 See accompanying notes 16
ALPINE ELECTRONICS, INC. Consolidated Statements of Changes in Net Assets Years ended March 31, 2009, 2008 and 2007 Capital stock Capital surplus Retained earnings Treasury stock Millions of Yen Valuation difference on available-for-sale securities Revaluation reserve for land Foreign currency translation adjustment Shareholders' equity at March 31, 2006 ¥25,921 ¥24,906 ¥52,213 ¥(27) ¥7,124 ¥(1,395) ¥ 2,040 ¥ — ¥110,782 Reclassification due to adoption of new accounting standards for presentation of net assets in the balance sheet at April 1, 2006 1,594 1,594 Net Assets at April 1, 2006 25,921 24,906 52,213 (27) 7,124 (1,395) 2,040 1,594 112,376 Net income 5,729 5,729 Change in equity affiliate accounted for by equity method-retained earnings 513 513 Purchase of treasury stock (3) (3) Disposal of treasury stock 0 0 0 Dividends from surplus (¥20.0 per share) (1,395) (1,395) Directors' Bonuses (60) (60) Other 344 665 2,481 258 3,748 Balance at March 31, 2007 25,921 24,906 57,344 (30) 7,789 (1,395) 4,521 1,852 120,908 Net income 3,554 3,554 Change in equity affiliate accounted for by equity method-retained earnings (611) (611) Purchase of treasury stock (1) (1) Disposal of treasury stock 0 0 0 Dividends from surplus (¥25.0 per share) (1,744) (1,744) Other 49 (3,036) (2,409) (445) (5,841) Balance at March 31, 2008 25,921 24,906 58,592 (31) 4,753 (1,395) 2,112 1,407 116,265 Net income(loss) (9,291) (9,291) Effect of changes in accounting policies applied to foreign subsidiaries 282 282 Purchase of treasury stock (0) (0) Disposal of treasury stock (0) 2 2 Dividends from surplus (¥25.0 per share) (1,744) (1,744) Other 0 (0) (1,663) (6,521) (456) (8,640) Balance at March 31, 2009 ¥25,921 ¥24,906 ¥47,839 ¥(29) ¥3,090 ¥(1,395) ¥(4,409) ¥ 951 ¥ 96,874 Minority interests Total Capital stock Capital surplus Retained earnings Treasury stock Thousands of U.S.Dollars (Note 1) Valuation difference on available-for-sale securities Revaluation reserve for land Foreign currency translation adjustment Balance at March 31, 2008 $263,881 $253,548 $596,477 $(315) $48,386 $(14,201) $21,501 $ 14,323 $1,183,600 Net income(loss) (94,584) (94,584) Effect of changes in accounting policies applied to foreign subsidiaries 2,871 2,871 Purchase of treasury stock (0) (0) Disposal of treasury stock (0) 20 20 Dividends from surplus ($0.25 per share) (17,754) (17,754) Other 0 (0) (16,929) (66,386) (4,642) (87,957) Balance at March 31, 2009 $263,881 $253,548 $487,010 $(295) $31,457 $(14,201) $(44,885) $ 9,681 $ 986,196 Notes: 1. Dividends from surplus per share is calculated based on actual payment of dividends during the period. Minority interests Total 17
Page 1 and 2: Annual Report 2009 For the year end
Page 3 and 4: Consolidated Financial Highlights Y
Page 5 and 6: Plans for the Future Implementing C
Page 7 and 8: Global Topics Alpine Introduces the
Page 9 and 10: Financial Section Financial Highlig
Page 11 and 12: Millions of Yen, unless stated othe
Page 13 and 14: products. As a result of the above
Page 15: Thousands of U.S. Millions of Yen D
Page 19 and 20: ALPINE ELECTRONICS, INC. Notes to C
Page 21 and 22: determined based on the amounts act
Page 23 and 24: 4. Inventories Inventories at March
Page 25 and 26: 8. Net assets The Japanese Corporat
Page 27 and 28: 10. Derivative Financial Instrument
Page 29 and 30: 12. Segment Information The Compani
Page 31 and 32: Millions of yen Elimination 2007 Ja
Page 33 and 34: Independent Auditors’ Report To t
Page 35 and 36: Global Network ● ● ●● ●

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